Spirit of America Management Corp NY cut its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 187,070 shares of the computer hardware maker's stock after selling 15,900 shares during the period. NVIDIA makes up 4.1% of Spirit of America Management Corp NY's portfolio, making the stock its largest holding. Spirit of America Management Corp NY's holdings in NVIDIA were worth $20,275,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in NVDA. FMR LLC raised its holdings in shares of NVIDIA by 0.7% in the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after purchasing an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of NVIDIA by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of NVIDIA by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after purchasing an additional 3,721,331 shares in the last quarter. Norges Bank bought a new position in shares of NVIDIA during the 4th quarter worth approximately $43,515,504,000. Finally, Northern Trust Corp raised its stake in shares of NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.
NVIDIA Price Performance
NASDAQ:NVDA traded down $0.49 during trading hours on Thursday, reaching $162.39. 61,446,438 shares of the company were exchanged, compared to its average volume of 266,231,597. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The stock's 50-day moving average is $139.47 and its 200-day moving average is $128.43. The firm has a market cap of $3.96 trillion, a PE ratio of 52.40, a price-to-earnings-growth ratio of 1.42 and a beta of 2.13. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $164.70.
NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA's quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter last year, the company earned $0.61 earnings per share. On average, sell-side analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is 1.29%.
Insider Transactions at NVIDIA
In other news, Director A Brooke Seawell sold 50,514 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $158.37, for a total value of $7,999,902.18. Following the completion of the sale, the director directly owned 1,974,784 shares in the company, valued at $312,746,542.08. This represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $158.35, for a total transaction of $11,876,250.00. Following the completion of the sale, the chief executive officer directly owned 75,023,225 shares of the company's stock, valued at $11,879,927,678.75. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,296,844 shares of company stock valued at $624,019,677 over the last quarter. Company insiders own 4.17% of the company's stock.
Analyst Ratings Changes
NVDA has been the subject of several recent analyst reports. Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Raymond James Financial boosted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research note on Thursday, May 29th. The Goldman Sachs Group initiated coverage on shares of NVIDIA in a research report on Thursday. They set a "buy" rating and a $185.00 target price on the stock. Morgan Stanley reissued an "overweight" rating and set a $170.00 target price (up previously from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Mizuho boosted their target price on shares of NVIDIA from $170.00 to $185.00 and gave the stock an "outperform" rating in a research report on Thursday, July 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, NVIDIA presently has a consensus rating of "Moderate Buy" and an average price target of $177.03.
Check Out Our Latest Analysis on NVIDIA
NVIDIA Profile
(
Free Report)
NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.
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